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Re: SANDRA11 post# 6591

Tuesday, 10/01/2019 10:04:59 AM

Tuesday, October 01, 2019 10:04:59 AM

Post# of 20544
CACH: I concur with You Sandra, in fact upon doing further DD this past week (In addition to the many hours over the past two years), now seems to be the best time to share it.

First off, relative to the ongoing conversation yesterday regarding LLoyd Miller III, a larger CACH Shareholder, Renee shared a link showing a SEC 13G/A filing by Mr. Miller and expressed as fact that he dumped his shares, yet a form 13 G/A is merely used to report a change in ownership in a company, and how filing one isn't necessarily based on selling one's position explained in the link below:

Per: https://rsmus.com/pdf/is_section-382-analyses.pdf

Ownership under section 382 is based upon stock value, and therefore, when there are multiple classes of stock involved, determining value becomes a more complicated exercise than when there is only a single class. Further, a shareholder’s ownership may change over time merely due to value fluctuation. This fluctuation may cause ownership shifts unrelated to any stock purchases, sales or other transactions.



I further wish to add that this law article also encompasses how NOL's and rule 382 apply and I recommend everybody read this as it is only two pages and provides a great deal of information in a rather simple format..

Acquisitions are not the only concern Companies thinking that the section 382 rules are only a concern during acquisitions are incorrect. Stock trading, capital raising and even recapitalizations can trigger ownership changes under section 382 – and companies with multiple classes of stock face particularly complex concerns.Not all the news is bad, nor is a change in ownership always a negative event. Companies often overlook planning opportunities as well as risks. Companies that are highly leveraged or have significant self-created intangible assets at the date of an ownership change may have built-in gains that can lead to enhanced NOL utilization. As a result, incurring a change in ownership does not necessarily mean that you are unable to fully offset current taxable income or that a reserve must be booked for financial statement purposes.




One can further see in the two links below that LLoyd Miller
in fact, did not sell shares:

If you read the top of this list, it clearly states:

All Miller Lloyd I III holdings are listed in the following tables. Data is sourced from 13D/13G, 13F, and N-Q filings. Green rows indicate new positions. Red rows indicate closed positions.



CACH is listed third from the bottom of the table and it is NOT highlighted in Red.
https://fintel.io/i/miller-lloyd-i-iii

Per:https://fintel.io/soh/us/cachq/miller-lloyd-i-iii



CACH announced it had filed Bankruptcy on Feb 2, 2015

Per: https://www.globenewswire.com/news-release/2015/02/04/702940/10118599/en/CACHE-Inc-Files-for-Chapter-11-Continues-to-Seek-Strategic-Partner.html

"We took this action today with the goal of securing CACHÉ's future," said Jay Margolis, CACHÉ Chairman and CEO. "Our team has been working tirelessly to implement a turnaround. In a short period of time, we upgraded key stores and closed unprofitable ones; launched a more vibrant and robust e-commerce site where conversion has doubled; and have seen same store comp sales from our 2014 Holiday season increase 9.5%, with this positive momentum continuing through January. However, the depressed brick and mortar retail market, the continued growth of online shopping, and rapidly changing consumer tastes and habits thwarted our efforts. Ultimately, we have not had the time or capital to realize all of the benefits of our hard work."

As part of these proceedings, the Company intends to further reduce its store count and sell and renegotiate certain of its leases. In addition, as part of its contingency planning, the Company and its representatives have sought proposals from experienced liquidators to serve as a stalking horse purchaser of the Company's assets. As CACHÉ is working toward a going-concern outcome, the stalking horse agreement would be subject to potential higher and/or better bids, and most importantly, potential going-concern bids, at a bankruptcy auction.

"We believe that this action provides CACHÉ the greatest opportunity to secure a strategic partner while maximizing recovery to our stakeholders," added Margolis.
The Key words above IMO are "Secure a strategic Partner"

And below it seems quite obvious that it was always the intention of the company to take care of their employees to the best of their ability.
As is customary, the Company is seeking authority from the Court to pay wages and salaries, continue employee benefit programs, pay vendors on an ongoing basis, and honor customer programs.



I will post more DD as the day progresses...Need coffee....LOL

“The person who risks nothing, does nothing, has nothing, is nothing, and becomes nothing. He may avoid suffering and sorrow, but he simply cannot learn and feel and change and grow and love and live.”~Leo Buscaglia